Female Invest, a leading finance app that empowers women through accessible subscription-based learning, financial news, and community, announced the close of its Series A funding round, raising a total of €10.3 million.
The platform, designed to help women maximise their financial potential and start investing, boasts over 73,000+ paying members across 123 countries and a thriving online community of more than 512,000 followers across social media platforms.
In July 2024, Female Invest secured €9.4 million led by venture capital funds Educapital and Rubio. Additionally, the company launched a crowdfunding campaign exclusively for its members on Seedrs, which raised an extra €900k.
This campaign broke several world records, including the highest number of pre-registrants (12,000+), the fastest to raise $1 million (€900k) in just 4 minutes, and the highest number of female investors in any crowdfunding campaign (94%). This achievement is particularly notable given that less than 2% of funding goes to female-founded companies, making Female Invest a trailblazer in multiple arenas.
“We are absolutely astounded that our community invested $1 million in just 4 minutes, especially considering we had a cap on how much each member could invest. For years, our members have requested a crowdfunding campaign, so we knew the demand was there, but we anticipated it would take at least a few days to fill the round,” said Camilla Falkenberg, Co-founder of Female Invest.
Founded in 2019 by Emma Due Bitz (29), Camilla Falkenberg (31), and Anna-Sophie Hartvigsen (30), Female Invest was inspired by their own experiences at personal finance events where women were noticeably absent. Recognizing the gender disparity in investments and savings, they created a platform to address this gap.
The co-founders participated in the prestigious Silicon Valley accelerator Y Combinator in 2021, co-authored the Sunday Times Best Seller “Girls Just Wanna Have Funds,” and are all featured in Forbes’ 30 Under 30 list for finance. Endorsements from high-profile figures like Hillary Clinton and Emma Watson have further fueled the excitement around the startup.
With a Compound Annual Growth Rate (CAGR) of 240%, Female Invest has seen remarkable growth, attracting users from 120 countries. Currently, 40% of its users are based in the UK. With the new capital, the company plans to officially launch in the US, expand its trading offerings, and continue scaling its operations.
At a time when 70% of stocks are owned by male investors and female workers retire with about two-thirds less in their pensions compared to men (Nest survey – Oct 2020), Female Invest aims to bridge the gender investment gap. The platform provides women with the skills necessary to manage their own finances and achieve financial independence. Research by Warwick Business School shows that women who invest tend to outperform men in terms of investment returns, underscoring the need for a female-centric financial platform.
Anna-Sophie Hartvigsen, Co-founder of Female Invest, explained the platform’s mission: “Women are falling financially behind in every single country. They earn less, save less, and invest less with what money they do have. Our goal at Female Invest is to close this gap as quickly and effectively as possible.”
Camilla Falkenberg emphasized the need to reinvent financial advice for young women: “Financial advice for women often focuses on saving money on beauty, clothes, food, and going out. However, there is a significant gap in resources that help women grow their money through investments. Female Invest fills this void.”
Emma Due Bitz, who worked as a certified stockbroker from the age of 20, added: “The financial industry has traditionally been dominated by men, reflected in its communication style, corporate culture, and product offerings. While this isn’t intentionally exclusive, it often results in the exclusion of women. Female Invest aims to change that.”
Read the orginal article: https://www.eu-startups.com/2024/07/london-based-female-invest-bags-e10-3-million-series-a-to-be-the-largest-finance-app-for-women/
